Provide income tax credit for renters

This bill creates a new Montana income tax credit for renters with household incomes under $45,000 who pay rent-equivalent property taxes. The credit equals the lesser of the amount by which rent-equivalent taxes exceed 4% of gross income or $500, with reduced credit amounts for those earning between $35,000 and $45,000. Renters cannot claim this credit if they also qualify for the elderly residential property tax credit, and any unused credit amount is refunded to the claimant. The legislation also adds the renter's tax credit to a list of tax credits that must be reviewed by the revenue interim committee every eight years starting in 2025.